I’ve made this very simple calculator for you to use to calculate the retail price for your artworks. You can download by clicking here.
It’s an Excel file. If you have Numbers instead of Excel just right-click on it and click Open With -> Numbers
Just enter the commission rate in the yellow box, the title of your work and price you want for your work and it will determine the retail price for that work.
If you’re curious, the formula the calculator uses is simple.
For any artist price A, and commission rate c, the formula to calculate the retail price R is:
R = A / 1 − c
So if your artist price is $1,200, and the commission rate is 40%, the formula would read:
R = 1200 / 1 - 40%
R = 1200 / 1 - 0.4 (converting the percentage to a decimal)
R = 1200 / 0.6
R = $2,000
Hope that helps.
Until next time, keep doing what you love and making good work.
Brandon